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Thread: U.S. Borrowing Needs Are EXPLODING

  1. #31
    Radical Centrist BigLeRoy's Avatar
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    Quote Originally Posted by Madeline View Post
    Yes, you did. What should we do next, IYO?
    Were it up to me? I would immediately CANCEL the Trump tax cut! Virtually all of it. Do a complete rethink on that, to say the least. That's what's driving the SUDDEN huge increase in debt and borrowing needs. [We will need to borrow yet more NEXT week. This ISN'T going to end!] Take another look at that huge recent spending bill that was just passed, too. We're OVER-spending on defense, even though a lot of Republicans won't agree. We account for ALMOST half of the WORLD'S total military spending! WHY? It's as if we think ALL of the world's other countries are conspiring to invade America, or something! Well, if THAT isn't a Trumpian view, for you!

    Keynes: The boom, and not the slump, is the time for austerity.

    THIS is the time for austerity. It may not yet be exactly booming in your neck of the woods. I get that. But for the American economy as a whole, it certainly is. And so THIS is the time we should be trying, very hard, to BALANCE the budget. Instead, we're going in the OPPOSITE direction!

    Time for a U-Turn!

    Because there's a cliff right up ahead!!
    Thanks from OldGaffer and labrea

  2. #32
    Veteran Member HenryPorter's Avatar
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    Quote Originally Posted by BigLeRoy View Post
    By the way, this is from one of the links embedded in the link in the OP:

    Interest payments on US debt could quadruple to an eye-popping $1.05 trillion by 2028 if current policies stay in effect.

    That would be 3.6% of the entire American economy, according to new estimates from the Committee for a Responsible Federal Budget, a fiscal watchdog group.

    By contrast, interest payments last year were $263 billion, or 1.4% of gross domestic product. Historically, interest spending has averaged 2% of GDP.

    BigLeRoy: I mean, that's extraordinary: We're on a path to paying more than a TRILLION a year, just in INTEREST on the national debt, ten years from now. And that would be a very significant 3.6% of our annual GDP. Simply unsustainable.

    I'm sorry, but: This is NUTTY.
    We need tax cuts for the rich NOW!

  3. #33
    Radical Centrist BigLeRoy's Avatar
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    Quote Originally Posted by HenryPorter View Post
    We need tax cuts for the rich NOW!
    Proof that truth is stranger than fiction: They are ALREADY talking about YET ANOTHER tax cut!

    You get the impression these guys are just TRYING to blow things up to kingdom come?
    Thanks from Friday13

  4. #34
    Veteran Member Southern Dad's Avatar
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    Quote Originally Posted by BigLeRoy View Post
    Bill Clinton, moral reprobate that he was, was a genuine fiscal conservative. When he left office at the beginning of 2001, America was in RUDE fiscal health, to an extent that shocked the world.

    And then this fellow named George came along.......

    He kind of 'screwed the pooch'. That he did.
    Itís funny that you think President Clinton was a fiscal conservative. You must not remember this guy named Newt who fought tooth a nail for those cuts.

  5. #35
    Veteran Member Southern Dad's Avatar
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    Quote Originally Posted by BigLeRoy View Post
    Were it up to me? I would immediately CANCEL the Trump tax cut! Virtually all of it. Do a complete rethink on that, to say the least. That's what's driving the SUDDEN huge increase in debt and borrowing needs. [We will need to borrow yet more NEXT week. This ISN'T going to end!] Take another look at that huge recent spending bill that was just passed, too. We're OVER-spending on defense, even though a lot of Republicans won't agree. We account for ALMOST half of the WORLD'S total military spending! WHY? It's as if we think ALL of the world's other countries are conspiring to invade America, or something! Well, if THAT isn't a Trumpian view, for you!

    Keynes: The boom, and not the slump, is the time for austerity.

    THIS is the time for austerity. It may not yet be exactly booming in your neck of the woods. I get that. But for the American economy as a whole, it certainly is. And so THIS is the time we should be trying, very hard, to BALANCE the budget. Instead, we're going in the OPPOSITE direction!

    Time for a U-Turn!

    Because there's a cliff right up ahead!!
    Cancel the Tax Reform that is putting money in wage earnerís pockets every payday? Yíall go for it. Talk about a sure way to lose an election.

  6. #36
    Dick with my Buzz...Try DebateDrone's Avatar
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    Quote Originally Posted by Miller47 View Post
    Thanks Obama!

    $9.3 Trillion added to the national debt.

    That's nearly half!

    And, in only 8 years!
    The recession is over. What is the need now?

    Trump signs 1.3 Trillion Omnibus bill. Damn you Obama.

  7. #37
    Dick with my Buzz...Try DebateDrone's Avatar
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    Quote Originally Posted by Southern Dad View Post
    It’s funny that you think President Clinton was a fiscal conservative. You must not remember this guy named Newt who fought tooth a nail for those cuts.
    He wasn't "fiscally conservative", but he knew enough to shift windfall from war reduction to help pay on the debt.

    If Clinton were a "fiscal conservative" like Reagan and Bush l , he would have let the deficit balloon.
    Thanks from labrea

  8. #38
    Southern Strategy Liberal OldGaffer's Avatar
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    Quote Originally Posted by Southern Dad View Post
    It’s funny that you think President Clinton was a fiscal conservative. You must not remember this guy named Newt who fought tooth a nail for those cuts.
    The same Newt that proposed two massive tax cuts that Clinton vetoed( and Bush rushed to pass ASAP after he got appointed President)? That Newt? Those cuts added 2.5 trillion to the debt alone.
    Thanks from labrea

  9. #39
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    Quote Originally Posted by DebateDrone View Post
    The recession is over. What is the need now?

    Trump signs 1.3 Trillion Omnibus bill. Damn you Obama.
    The recession was over before Obama left office.

    Yet, the deficit was higher in 2016 than in 2015.

    That's right, it was going up again...

  10. #40
    Southern Strategy Liberal OldGaffer's Avatar
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    Quote Originally Posted by Miller47 View Post
    The recession was over before Obama left office.

    Yet, the deficit was higher in 2016 than in 2015.

    That's right, it was going up again...
    And Trump has put it on steroids, it is going to be over a trillion this year and every year he is POTUS.
    Thanks from Friday13

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